The Goldman Sachs Group Increases Telecom Argentina (NYSE:TEO) Price Target to $8.30

Telecom Argentina (NYSE:TEO) had its price objective raised by research analysts at The Goldman Sachs Group from $7.30 to $8.30 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “sell” rating on the utilities provider’s stock. The Goldman Sachs Group’s target price points to a potential downside of 35.41% from the company’s previous close.

TEO has been the subject of a number of other research reports. Scotiabank cut Telecom Argentina from a “sector perform” rating to a “sector underperform” rating and upped their price target for the stock from $5.70 to $6.10 in a research report on Friday, September 20th. StockNews.com raised shares of Telecom Argentina from a “sell” rating to a “hold” rating in a report on Wednesday.

Telecom Argentina Stock Performance

Shares of TEO stock opened at $12.85 on Wednesday. Telecom Argentina has a 1 year low of $5.52 and a 1 year high of $14.13. The firm has a fifty day moving average price of $9.25 and a 200-day moving average price of $8.07. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.40 and a quick ratio of 0.37.

Institutional Trading of Telecom Argentina

Several institutional investors have recently made changes to their positions in the business. XTX Topco Ltd purchased a new position in Telecom Argentina in the 3rd quarter worth approximately $80,000. Stifel Financial Corp purchased a new position in shares of Telecom Argentina in the third quarter worth $91,000. PFG Investments LLC bought a new position in shares of Telecom Argentina during the second quarter worth $104,000. Centiva Capital LP bought a new position in shares of Telecom Argentina during the third quarter worth $123,000. Finally, B. Riley Wealth Advisors Inc. purchased a new position in Telecom Argentina during the second quarter valued at $174,000.

About Telecom Argentina

Telecom Argentina SA, together with its subsidiaries, provides telecommunications services. The company offers mobile telecommunications services, including voice communications, high-speed mobile Internet content and applications download, online streaming, and other services; and sells mobile communication devices, such as handsets, Modems MiFi and wingles, and smart watches.